CARBON CREDITATION

Who can give Carbon Credits?

VERRA, Standards for a Sustainable Future.

Who is VERRA?¹

A non-profit organisation that manages and develops standards and frameworks for climate action and sustainable development goals including the verified carbon standard (VCS) program- a widely used voluntary greenhouse gas program.

VERRA’s Blue Carbon Work Objectives² :

  1. Explore key barriers and opportunities for tidal wetland conservation and restoration activities.

  2. Identify recommendations for how standards and methodologies and tools could better support tidal wetland activities.

In partnership with United Nations Framework Convention on Climate Change (UNFCCC), VM0007 REDD + MF was introduced³.

These are the activities which the carbon can be credited to within the VCS REDD+ methodology.

  1. Avoided planned (APD) and unplanned deforestation (AUDD).

  2. Reduced forest degradation.

  3. Afforestation/reforestation/revegetation (APR).

  4. Avoided planned (APWD) and unplanned (AUWD) peatland degradation and peatland restoration.

  5. Avoided planned and unplanned tidal wetland degradation and tidal wetland restoration (new).

With 3 new modules with 13 existing revised modules.³

Determining the category of VCS-eligible activities⁴ ⁸

A) ALL the relevant baseline modules must be applied with relevant applicability conditions and criteria:

  • BL-UP: Avoiding unplanned deforestation or wetland degradation.

  • BL-PLL: Avoiding planned deforestation, planned degradation, or planned wetland degradation.

  • BL-DFW: Avoiding forest degradation (fuelwood/charcoal).

  • BL-ARR: Land suited for ARR.

  • BL-PEAT: Peatland.

  • BL-TW: Tidal Wetland.

B) Necessary evidence must be provided to demonstrated the type of eligibility activity as given in each module.

C) A project can include area subject to different eligible activities.

For example,

Area A= Avoiding Planned Deforestation; Area B= Avoiding Unplanned Deforestation; Area C= Avoiding Degradation; Area D= Reforestation; Area E= Peatland Rewetting and Reforestation; Area F= Tidal Wetland Restoration and Reforestation.

In such cases, the areas that are eligible for different categories must be captured by different strata and clearly delineated, and the procedures outlined below applied to each of them separately.

D) Projects may be stand-alone REDD, ARR and/or WRC or Projects may combine WRC with REDD, or WRC with ARR, in a single area.

VERRA’s accepted project approaches

Applicability Conditions

REDD + MF sets out applicability conditions for each of the VCS project categories covered including Wetlands Restoration and Conservation (WRC)

The REDD + MF is a compilation of modules and tools that together define:

  • Project Activity .

  • Necessary methodological steps.

ARR projects must apply procedures in CDM methodology AR-ACM0003 (Afforestation and Reforestation of lands except Wetlands), but wetlands-related procedures are in the PEAT and TW modules. Described in BL-ARR and M-ARR.

WRC has general conditions exist for each module and must be met. (BL-TW and M-TW have no specific applicability conditions)

By choosing the appropriate modules, a project-specific methodology can be constructed. The justification of the choice of modules and why they are applicable to the proposed project activity must be given in the project description (PD).

*Specific applicability conditions exist for each module and must be met for the module to be used.

Additionality- Activity Method, VMD0052 (ADD-AM)

This methodology uses an activity method for the demonstration of additionality of tidal wetland restoration and conservation project activities. For such project activities, use Module ADD-AM (Demonstration of Additionality of Tidal Wetland Restoration and Conservation Project Activities)

  • ALL WRC project activities using VM0007 are additional.

  • ALL other project activities, including non-tidal wetlands such as peatlands, must use a project-specific approach (“project method”) to demonstrate additionality.

  • Methodologies may adopt a standardised method to determine additionality for a class of project activities, rather than requiring project level determination.

  • The Activity Method is one such standardised approach.

  • Seeks to incentivise under-utilised approaches (activities) to achieving GHG reductions.

  • ALL projects meeting the eligibility criteria are on the positive list and deemed additional.

Agencies